Trinity One Metals Ltd. has entered into a definitive purchase option agreement through its Chilean subsidiary, Metales de Chile SpA, to acquire a 100% interest in the Juan Godoy property, covering the historic Chañarcillo silver mine located approximately 65 kilometres south of Copiapó in northern Chile's Atacama Region.

The transaction requires aggregate cash option payments totaling US$10,000,000 over a 48-month period. The structure begins with an initial US$150,000 payment upon agreement execution and delivery of pending documentation, followed by staged payments of US$300,000 at 12 months, US$750,000 at 24 months, US$1,000,000 at 36 months, and a final US$7,800,000 payment at 48 months. Upon exercise of the option, the vendor will be entitled to a 2.0% net smelter returns royalty. Closing of the transaction and release of the initial consideration remain subject to customary due diligence, the completion of the formal share transfer for the Chilean subsidiary, and acceptance from the TSX Venture Exchange.

Trinity One intends to immediately commence a modern exploration program across the exploitation mining concessions. Fieldwork begins with a high-resolution UAV magnetic survey covering approximately 12 square kilometres to map structural architecture and define hydrothermal alteration zones, alongside systematic sampling of historic mine dumps, waste material, and tailings to evaluate residual silver grades. Data from these programs will feed into an updated three-dimensional geological model and rank priority drill targets ahead of an initial diamond drilling campaign targeted for the fourth quarter of 2026. That drilling will focus on shallow extensions of historically mined high-grade silver zones and historical drill intercepts.

The property encompasses the site of Juan Godoy’s original 1832 silver discovery, which historically produced approximately 100 million ounces of silver before mining ceased due to the flooding of lower workings. Historical technical literature reports high-grade silver grades within portions of the oxidised mineralised zone alongside historical reverse circulation drilling completed by Atna Resources Ltd. in 2002 that returned an interval of 2.0 metres grading 2,390 g/t silver.

Commodity markets provide a supportive backdrop, with silver currently priced at $64.97 per ounce, representing an 8.53% increase over the 30-day period to August 10, 2026.

Read the full announcement: Trinity One Metals Announces Definitive Option Agreement to Acquire 100% Interest in the Historic Nueva Chañarcillo Silver Mine in Northern Chile